Roku (NASDAQ:ROKU) Receives Neutral Rating from Wedbush

Roku (NASDAQ:ROKU)‘s stock had its “neutral” rating reiterated by investment analysts at Wedbush in a report released on Thursday, Benzinga reports. They presently have a $155.00 target price on the stock. Wedbush’s price objective suggests a potential upside of 0.98% from the stock’s previous close.

Other analysts also recently issued reports about the company. William Blair downgraded Roku from an “outperform” rating to a “market perform” rating in a research report on Monday, June 15th. Seaport Research Partners lowered shares of Roku from a “buy” rating to a “neutral” rating in a report on Friday, August 7th. Rosenblatt Securities reiterated a “buy” rating and set a $160.00 price objective on shares of Roku in a report on Monday, August 10th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $165.00 price target (down from $167.00) on shares of Roku in a research report on Friday, August 14th. Finally, Weiss Ratings raised Roku from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $156.17.

Roku Stock Performance

Shares of Roku stock opened at $153.49 on Thursday. The company has a fifty day moving average of $152.18 and a 200 day moving average of $130.65. The company has a market capitalization of $22.78 billion, a P/E ratio of 65.59 and a beta of 2.05. Roku has a fifty-two week low of $78.53 and a fifty-two week high of $159.89.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.47. Roku had a net margin of 6.82% and a return on equity of 13.73%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. Analysts forecast that Roku will post 2.85 EPS for the current year.

Insider Activity

In other news, insider Gilbert Fuchsberg sold 10,719 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $150.00, for a total value of $1,607,850.00. Following the sale, the insider directly owned 40,380 shares of the company’s stock, valued at approximately $6,057,000. The trade was a 20.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Dan Jedda sold 7,000 shares of Roku stock in a transaction on Monday, August 17th. The shares were sold at an average price of $157.11, for a total value of $1,099,770.00. Following the completion of the sale, the chief financial officer directly owned 65,963 shares of the company’s stock, valued at $10,363,446.93. The trade was a 9.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 112,285 shares of company stock worth $16,939,414. Insiders own 13.45% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of hedge funds have recently bought and sold shares of ROKU. Geode Capital Management LLC raised its stake in Roku by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 2,464,130 shares of the company’s stock valued at $267,389,000 after buying an additional 168,214 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Roku by 229.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company’s stock worth $192,868,000 after acquiring an additional 1,419,772 shares during the period. Renaissance Technologies LLC lifted its holdings in Roku by 22.8% in the first quarter. Renaissance Technologies LLC now owns 1,565,100 shares of the company’s stock valued at $148,090,000 after acquiring an additional 290,200 shares during the period. Fred Alger Management LLC lifted its position in shares of Roku by 7,087.7% during the 4th quarter. Fred Alger Management LLC now owns 1,421,440 shares of the company’s stock valued at $154,212,000 after acquiring an additional 1,401,664 shares during the period. Finally, HBK Investments L P purchased a new stake in Roku during the second quarter worth $163,604,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) operates a television streaming platform that connects consumers with digital entertainment. Its Roku operating system powers streaming players, Roku-branded televisions and smart-TV products made by licensing partners. The platform provides access to streaming services, live television, movies, music and other applications.

The company also operates The Roku Channel, its own ad-supported streaming service offering licensed and original content, including movies, television programs, live channels and premium subscription options.